Windsor Drake
Transaction · B2B SaaS · 2022

Thoma Bravo / Coupa Software 2022

Thoma Bravo acquired Coupa Software for $8.0B on December 12, 2022.

Target
Coupa Software
Acquirer
Thoma Bravo
Deal value
$8.0B
Announced
December 12, 2022
Sub-sector
B2B SaaS

Transaction overview

  • Thoma Bravo announced the acquisition of Coupa Software on December 12, 2022 for $8.0B.

Strategic rationale

Thoma Bravo acquires spend-management platform Coupa Software, taking it private.

Deal terms & multiples

Deal value
$8.0B
Target revenue
Not disclosed
Target EBITDA
Not disclosed
EV / Revenue
Not disclosed
EV / EBITDA
Not disclosed
Announcement
December 12, 2022
Acquirer
Thoma Bravo (PE)
Sub-sector
B2B SaaS

Sources

  • coupa.com /newsroom/thoma-bravo-completes-acquisition-coupa-software/

Comparable transactions in B2B SaaS

Primary Event type Counterparty Value Sub-sector Date
Anaplan Transaction Thoma Bravo $11B B2B SaaS March 20, 2022

Other deals by Thoma Bravo

Primary Event type Counterparty Value Sub-sector Date
ForgeRock Transaction Thoma Bravo $2.3B Cybersecurity October 11, 2022
SailPoint Transaction Thoma Bravo $6.9B Cybersecurity April 11, 2022
Anaplan Transaction Thoma Bravo $11B B2B SaaS March 20, 2022
Bottomline Technologies Transaction Thoma Bravo $2.6B B2B Payments December 17, 2021